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by John Lyngstad, CFP®
Two basic investment mistakes are all too common. Either one could derail your pursuit of your financial goals.
Before you invest, ask yourself:
Then meet with a Bell Bank Wealth Management financial advisor to come up with a plan of action. We’ll get to know you and understand your goals, so the advice we give is specific to you and your situation.
There’s so much information out there, and much of it is short-term advice or opinion. It’s not an educational tool, and it can prevent you from sticking to your plan.
If you have a solid plan in place, and you know what you’re trying to accomplish, you don’t have to worry about what you come across in the financial media. Remember, chaos and uncertainty might be good for ratings, but they don’t help you form and stick to your financial plan. Instead, they might prompt emotional, knee-jerk reactions.
What one person predicts, someone else will contradict. And keep in mind that most global events don’t change anything in your portfolio. A lot of financial media focuses on the short term, but most people are long-term investors.
If you have a plan and you stick to it, investing becomes so much less emotional and less stressful.
Call us at Bell, and we can help you form an investment plan and show you how to stick with it.
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Investing and wealth management products are not FDIC insured, have no bank guarantee, may lose value, are not a deposit and are not insured by any federal government agency.